Business
Psyched Wellness Announces Private Placement for Proceeds of up to C$1,719,306.94
Toronto, Ontario--(Newsfile Corp. - March 11, 2026) - Psyched Wellness Ltd. (CSE: PSYC) (OTCQB: PSYCF) (FSE: 5U9) (the "Company" or "Psyched Wellness"), a life sciences company focused on the production and distribution of health and wellness products derived from the Amanita Muscaria mushroom, is excited to announce that it has entered into a non-binding memorandum of terms (the "Term Sheet") with Gotham Green Fund III, L.P. and Gotham Green Fund III (Q), L.P. (together, "Gotham Green")...
About this update from Psyched Wellness Ltd
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - March 11, 2026) - Psyched Wellness Ltd. (CSE: PSYC) (OTCQB: PSYCF) (FSE: 5U9) (the "Company" or "Psyched Wellness"), a life sciences company focused on the production and distribution of health and wellness products derived from the Amanita Muscaria mushroom, is excited to announce that it has entered into a non-binding memorandum of terms (the "Term Sheet") with Gotham Green Fund III, L.P. and Gotham Green Fund III (Q), L.P. (together, "Gotham Green") pursuant to which the Company shall complete a non-brokered private placement (the "Offering") of common shares (the "Common Shares") and common share purchase warrants (the "Warrants") for aggregate gross proceeds of up to C$1,719,306.94 in two tranches of up to C$859,653.47 each, subject to closing conditions. The Offering will be led by Gotham Green, and it may include affiliates and/or co-investors of Gotham Green (together, "Investor Group").","length":1024,"tagName":"p"},{"type":"text","content":"Offering Details","length":16,"tagName":"p"},{"type":"text","content":"The Offering will consist of issuances of Common Shares at a price of C$0.0101 per Common Share and Warrants at a price of C$0.005 per Warrant. Each Warrant will entitle the holder thereof to acquire one (1) additional Common Share (each, an "Additional Share") at a price of C$0.0051 per Additional Share at any time on or before the Warrant expiry date, set sixty (60) months following the applicable closing date.","length":426,"tagName":"p"},{"type":"text","content":"The Company has obtained approval from the Canadian Securities Exchange (the "CSE") to issue the Common Shares and Warrants at a price lower than C$0.05 as the Offering Price is above the volume-weighted average trading price of the Common Shares on the CSE for the 20 trading day period ending March 10, 2026. The Company has determined that the Offering is in the best interests of the Company and that it is reasonable based on the Company's current financial circumstances.","length":491,"tagName":"p"},{"type":"text","content":"The Offering will be offered for purchase and sale to investors in the United States on a private placement basis pursuant to available exemptions from the registration requirements under t...